Introduction

Despite the upbeat growth figures, the reality of the situation is that most restaurant operators are under more pressure than ever to improve financial performance. Finding new and innovative ways to increase revenues, reduce operating costs and enhance the overall quality of the guest experience is top of mind for restaurant operators. Today’s restaurant operators need all the help they can get when it comes to meeting the growing expectations of a technology-savvy, mobile-engaged population.

The fact that technology can improve and even fundamentally transform the restaurant-going experience is an important consideration for restaurant owners and operators to keep in mind. POS mobility also makes it possible to turn tables faster and serve more guests over the same period of time.

• Increase revenue – Increase profitability – Reduce costs
• Reduce food order placement time – Reduce payment processing time – Increase table turn rates – Improve staff productivity
• Improve guest satisfaction and loyalty – Improve staff management and inventory control- Generate business insights – Meet payment compliancy – Reduce food waste

Mobility, flexibility and customizability are the hallmarks of next-generation restaurant management and POS solutions.

The following are just a few key concepts for decision makers to keep in mind when embarking on the journey to upgrade their restaurant management and POS solutions capabilities.

Personalization. – Increasingly, technology is enabling restaurants to interact with guests in highly relevant and personalized manner. This is a milestone development in the annals of hospitality innovation.

Mobile order placement. – There is a quantum leap in efficiencies that table-service restaurant operators can gain when servers place orders from a tablet directly to the kitchen printer rather than from a stationary terminal.

Technology and data integration. – The POS system needs to seamlessly connect with online ordering systems, guest-facing apps, kiosks, display hardware and inventory management and workforce management solutions.

The POS system needs to integrate with CRM, marketing and guest loyalty and rewards management solutions, allowing restaurant operators to gain a deeper understanding of guest preferences.

Workforce management. – Beyond making it easy to perform basic tasks like tracking employee hours and submitting payroll directly, some advanced systems have features designed to optimize labor utilization.

Inventory management. – Software that constantly monitors stock levels based on real-time sales data and provides for a consolidated way to submit purchase orders speaks to the future of restaurant inventory management.

POS data reporting and analysis. – Some restaurant management systems can even open a window into the future and predict financial outcomes based on such factors as dining-out trends and seasonal dish popularity.

Restaurant accounting. – The best of these solutions automates virtually all accounting-related functions, dramatically reducing the day-to-day workload of a restaurant’s accounting department.

Buying Considerations.

Integrated platform capabilities that increase efficiency and effectiveness in unprecedented ways can make a colossal difference in terms of a restaurant’s overall financial performance. Reducing overhead and increasing margins by even a few percentage points can sometimes mean the difference between success and failure for an eating establishment. Because every restaurant has its own distinct set of wants, needs and preferences as well as its own personality, some degree of customization may be desired in a restaurant management system. By analyzing data related to guests, inventory, menus, employees, suppliers and various aspects of the business, restaurant operators can generate all kinds of actionable insights. The best of these solutions aggregate labor data from the POS system, allowing it to be easily exported or pushed directly to an integrated payroll processing provider.

Must Ask Questions.

• Does the solution offer flexibility in functionality, including data access and performance reporting?
• What type of customer support is offered? Are there any extra costs? How quickly will questions be answered and problems be resolved?
• How long will it take for problems to be resolved?
• What is the total cost of ownership? Are there any “hidden expenses?”
• What return on investment (ROI) can be expected?
• What is the solution provider’s track record of success?

To take full advantage of the management control of next generation systems, operators may have certain software configuration and customization needs that must first be implemented. Because not all POS data queries and reporting requirements can be anticipated in advance or be addressed with out-of-the-box dashboards, buyers should ask about customized reporting.

Decision makers should have clear expectations around customer support, problem resolution and the training that may be needed to get staff up to speed on the new system. The return on investment can be measured in terms of cost reduction, which is largely a function of increased staff productivity and resource utilization, and in terms of revenue growth.

Recommendations

• Take full advantage of POS mobility.
• Know your requirements.
• Harness the power of guest data.
• Focus on personalization.

With the evolution of POS mobility, restaurants have the opportunity to migrate servers from being food-order-taking-and-delivery-automatons to becoming full-fledged brand ambassadors. Any technology solution that can help restaurant operators better manage and improve the quality of their guest relationships is bound to be money well spent.

Reference: The 2019 Smart Decision Guide to Restaurant Management and POS Systems

Technology has been the buzz word that never left the business world since it made its grand entrance. Hitting every industry at the heart, technology soon became the cornerstone to success. Although when it comes to the restaurant industry, it hasn’t been smooth sailing so far. Although a majority were confident of their restaurant’s use of mobile technology, according to a survey done by Oracle Food and Beverages, only 48% felt absolutely prepared to fund the future innovations. This study captured the inputs of 279 leaders in the food and beverage industry who used mobile technology during the summer of 2018. Where the findings highlighted that 62% of those that were involved in the research expressed doubts about their capabilities in keeping up with the pace of mobile tech evolution. With over half of them, (summing up to 59%) showing concerns of feeling threatened by the competitors that do keep up.

To stay ahead of the game, and to appeal to the growing requirements of the audience, restaurants have to stay updated with new technology. It all stands on the grounds of customer experience, so just as the in-house service quality the online experience has to be as good to those interacting with the restaurant over a mobile device or kiosk.

All these research tells us one thing, and that is that restaurants are faced with the need to embrace the mobile technology to dive into the greater heights. Competition becomes fierce in this atmosphere, so falling back would ultimately mean losing to the competition while becoming less appealing to the customers that expect the best.

Decreased Costs + Saved Time = Higher Revenue

Mobile technology revolutionised the way restaurants functioned over the past few years before technology. It took away all the extra expenses, cut away the costs and efforts that could be replaced, and gave owner the chance to invest all those savings into developing the future. From decreasing serving staff, stock monitoring and quick updates in the menu, things just got way more structured. Taking away wastages that many venues didn’t realise they had.

It’s not just a speculation, because there’s research to prove that when mobile-tech met restaurants, things just got better. Which is why 84% of food and beverage executives said they that restaurant apps brought down the labour cost significantly. The highest of the benefits, 96% of respondents agree with 40% strongly agreeing that expanded mobile inventory management will be the biggest time and money saver.

There’s not a better time for those foodies to be alive than these days, because the options are just endless. What better than good food, well, easy ordering, fast delivery, seamless payments and a customised experience. These not only keep them happy but sky rocket loyalty. Supporting this 86% believe that branded mobile apps increased the speed of their service and revenue. Those guest facing apps, 93% said that it elevated the customer experience, increased loyal and repeat business.

Those future benefits are looking good with mobile technology

With everything on mobile, one might wonder what more there could be. Restaurants have already automated most elements from table reservations, ordering to payments, but there’s more yet to come. So, what’s coming? 82% said that partnering with apps such as Uber Eats and GrubHub will take business higher in the growth scale. With 95% believing that guest experience and customer loyalty would find ways to improve further.

The road ahead looks bright for the restaurant business, with organisation mentioning that they are prepared to meet the growing and ever-changing requirements of customers. Although with a slight sense of anxiety about the future, 48% of respondents said that they had the capable tools to meet the mobile future demands of the years ahead. So stay updated to bring the best to those, tech hungry customers that crave new experiences.